This determined the relationship, when not governed by Say's Law, of employment and output in his principle of effective demand. He depicted the equilibrium level of GDP in his namesake cross diagram,
This determined the relationship, when not governed by Say's Law, of employment and output in his principle of effective demand. He depicted the equilibrium level of GDP in his namesake cross diagram, and criticized Churchill's reintroduction of the gold standard. He proposed the founding of an International Clearing Union and the bancor, a world currency. Known for his condemnation of the Treaty of Versailles in his work The Economic Consequences of the Peace, for 10 points, name this British economist who argued for high government spending and wrote General Theory of Employment, Money and Interest.
This determined the relationship, when not governed by Say's Law, of employment and output in his principle of effective demand.
John Maynard {Keynes}